Shanthy Rachagan, Assoc Prof

Dr Shanthy Rachagan is an Associate Professor with the School of Business, MUSC. She is also the Director of Bachelor of Business and Commerce for the Faculty of Business and Economics. Her principal research interest is in corporate law, corporate governance and finance. She has researched and published in Tier A journals and presented papers at conferences, including academic and industry seminars in the area of corporate governance, corporate law and finance law. She has also co-authored the books Principles of Company Law in Malaysia and Concise Principles of Malaysian Company Law, first and second edition, published by LexisNexis. Dr. Shanthy is an Advocate and Solicitor of the High Court of Malaya and was engaged in both litigation and corporate conveyancing work in legal practice before moving to an academic career.

Academic Qualifications

Doctor of Philosophy
Institution Monash University
Year awarded 2009
Master of Business Administration & Masters of Law and Letters
Institution University of Brunel & University Malaya
Year awarded 1994 & 1998
Bachelor of Law and Letters & CLP (Hons)
Institution University of London & Certificate of Legal Practise, Qualifying Board, Malaysia
Year awarded 1986 & 1987

Professional Membership

1 Federal Territory and Selangor Bar Committee
2 Malaysian Bar Council

Membership in Associations and International Bodies

Name of Association/International Body Oxford University Commonwealth Law Journal
Role Reviewer
Duration of membership Since 2013
Name of Association/International Body Journal of Business Ethics (Teaching Business Ethics Section)
Role Reviewer
Duration of membership Since 2011
Name of Association/International Body Journal of African Business Management
Role Reviewer
Duration of membership Since 2011
Name of Association/International Body Entrepreneurship Global Conference, Australia
Role Reviewer
Duration of membership Jan 2008 - Dec 2008

Membership in National Associations, National Bodies and National Professional Bodies

Name of Association/International Body CTIM Company and Business Law Exam Paper
Role Examiner
Duration of membership Since Jan 2009
Name of Association/International Body MAICSA Company and Business Law Exam Paper
Role Examiner
Duration of membership Since Jan 2013
Name of Association/International Body Malaysian Institute of Accountants (MIA) Company and Business Law
Role Facilitator
Duration of membership Since Jan 2013
Name of Association/International Body Monash Business Review
Role Reviewer
Duration of membership 2010 - 2012
Name of Association/International Body Listing Committee, Bursa Malaysia
Role Member
Duration of membership Since 2012

Areas of Expertise

1 Finance Law
2 Islamic Banking Law
3 Corporate Law
4 Corporate Governance
5 Corporate Social Responsibility
6 Minority Shareholder Protection

Teaching

Subject CodeSubject
BTW2213 Malaysian Company Law
BTW3213 Corporate Governance
BTW2343 Finance Law

Books

1Rachagan, S., Pascoe, J. & Joshi, A. (2010). Concise Principles of Company Law (2nd ed.), LexisNexis, Petaling Jaya, Selangor, Malaysia.
2Rachagan, S., Pascoe, J. & Joshi, A. (2005). Concise Principles of Company Law, LexisNexis, Petaling Jaya, Selangor, Malaysia.
3Rachagan, S. (2004). Manual on Company Law, MAICSA, Kuala Lumpur, Malaysia.
4Rachagan, S. & Joshi, A. (2004). Code on Best Practices on Corporate Disclosure, Bursa Malaysia and MAICSA, Kuala Lumpur, Malaysia.

Book Chapters

1 Kunhibava, S. & Rachagan, S. (2012). Shariah and Law  in Relation to Islamic Banking and Finance. (Book Chapter Accepted).
2Rachagan, S. (2004). How to Meet Shareholders and Regulatory Demands through Good Corporate Governance. In N. Mahenthiran and B. Shanmugam (Eds.), Corporate Governance: An International Perspective, Malaysian Institute of Corporate Governance,Selangor, Malaysia.

Scholarly Journals

1 Mahenthiran, S., Tong, J., Terpstra, R. & Rachagan, S. (2013). The Impact of Executive Citizenship and Organizational Commitment on Corporate Social Responsibility – Evidence from Malaysia, Social Responsibility Journal
2Rachagan, S. & Mohd Sulaiman, A. (2013). Controlling Shareholders: Issues and Challenges for Shareholders’ Empowerment in Directors’ Remuneration in Corporate Malaysia, Asian Journal of Comparative Law
3 Kasipillai, J. & Rachagan, S. (2013). Money Laundering and Tax Crimes in an Emerging Economy, International Company and Commercial Law Review, Vol.24, No.7, pp.278-289.
4Rachagan, S. & Kalaithasan, K. (2013). Corporate Crime: Are We Ready to Blow the Whistle?, The Malaysian Corporate Secretary Journal, Vol.59, pp 6-11.
5 Kasipillai, J. & Rachagan, S. (2013). Money Laundering, Terrorism Financing and Tax Crimes, Tax Guardian, Vol.6, No.1, pp.16-25.
6 Kasipillai, J. and Rachagan, S., (2013), Favorable Tax Changes in Malaysia’s 2013 Budget, Tax Notes International, Vol.69, Issue 1, pp.95-103.
7Rachagan S. & Kuppusamy K. (2012). Encouraging Whistle blowing to Improve Corporate Governance? A Malaysian Initiative, Journal of Business Ethics.
8Rachagan S. (2011). Protecting Minority Shareholders in Malaysian Public Listed Companies Against Conflicts of Interest by Related Parties: Some Important Developments, Journal Corporate Ownership & Control, Vol.8, Issue 4, pp.123-139.
9 Kunhibava, S. &  Rachagan, S. (2011). Shariah and Law in Relation to Islamic Banking and Finance, Banking and Finance Law Review. Vol.26, Issue 3, pp.539-554.
10Rachagan S, Jeyapalan K. & Pascoe J. (2011). Shareholder Protection in Public Listed Companies: Issues in an Emerging Market, International Company and Commercial Law Review.
11Rachagan, S. (2010). Enhancing Corporate Governance in Listed Companies with Concentrated Shareholdings: A Malaysian Perspective, Journal of Financial Crime, Vol. 17, Issue 4, pp.430-440,
12 Kasipillai, J. and Rachagan, S. (2009). Malaysia’s Migration to Single Tier System, The Company Lawyer, U.K, Vol.30, Issue 2, pp.54-60.
13Rachagan, S. & Satkunasingam, E. (2009). Improving Corporate Governance in SMEs in Emerging Economies. Journal of Enterprise Information Management, Vol.22, Issue 4, pp.468-484.
14 Kasipillai, J., Chan, P. & Rachagan, S. (2008). Malaysia: Using Tax To Limit Vehicle Usage And Curb Air Pollution, Asia-Pacific Tax Bulletin (APTB), Vol.14, No.2, pp.108-117.
15Rachagan, S. (2007). Controlling Shareholder Systems and its Impact on Corporate Governance in Malaysia, International Corporate Rescue , Vol.4, No.1, pp.44-49
16Rachagan, S. (2007). The Agency Problem of Related Party Transactions and the Legal Strategies Used to Resolve it in Controlled Companies in Malaysia, Lawasia, pp.105-125
17Rachagan, S. (2006). Agency Costs of Controlled Companies in Malaysia, Singapore Journal of Legal Studies, pp.265-284
18Rachagan, S. (2005). Islamic Banking in Malaysia, The Journal of International Banking Law and Regulation, Vol.20, Issue 2, pp.88-94
19Rachagan, S. & Janine, P. (2005). Key Developments In Corporate Law Reform In Malaysia, Singapore Journal of Legal Studies, pp.93-113
20Rachagan, S. (2004). Corporate Governance and Its Impact on the Economy, The Business Review, Cambridge (BRC), Vol.3, Issue 1, pp.196-203

Practitioner Journals

1Rachagan, S. & Kalaithasan, K. (2013). Corporate Crime: Are We Ready to Blow the Whistle?, The Malaysian Corporate Secretary Journal, Vol.59, pp 6-11.
2 Kasipillai, J. & Rachagan, S. (2013). Money Laundering, Terrorism Financing and Tax Crimes, Tax Guardian, Vol.6, No.1, pp.16-25.

Conference Proceedings

1 Intangible Factors Associated with Firm Performance in Developing Countries: Malaysian Evidence, S. Rachagan, J.Tong, R. Terpstra and S. Mahenthiran (2013), The 2013 Annual Meeting of the American Accounting Association which took place on the 3rd – 7th August, California, U.S.
2 Protecting Minority Shareholders: Issues For Capital Markets In Emerging Economies, S. Rachagan (2012), Journal of Contemporary Accounting and Economics which took place in January, Selangor, Malaysia.
3 Transplanting Laws to Improve Corporate Governance in Public Listed Companies – A Malaysian Experience, S. Rachagan(2012), The International Conference “Current problems of legal theory and comparative law” organized by the Faculty of Law, “Babes-Bolyai” University Cluj-Napoca, which took place on the 26th of October, in Cluj-Napoca, Romania, Europe.
4 Laws or a Self-enforcing Model to Improve Corporate Governance in PLCs – in collaboration with Professor Jeyapalan Kasipillai (2012), The International Conference “Current problems of legal theory and comparative law” organized by the Faculty of Law, “Babes-Bolyai” University Cluj-Napoca, which took place on the 26th of October, in Cluj-Napoca, Romania, Europe.
5 The Impact of Executive Citizenship and Organization Commitment on Corporate Social Responsibility – Evidence from Malaysia, S. Mahenthiran, J.Tong,  R.Terpstra, S.Rachagan (2012), 3rd Global Accounting and Organisational Change Conference GAOC.
6 Tax Incentives and Corporate Social Responsibility, J.Kasipillai and S.Rachagan (2012) International congress on Innovation and Regional Economic Development which took place on the 2nd – 4th December, Hefei, China.
7 Combating Money Laundering, Terrorist Financing and Tax Crimes, S.Rachagan and J.Kasipillai (2012), International congress on Innovation and Regional Economic Development which took place on the 2nd – 4th December, Hefei, China.
8 The Self Enforcing Model and Corporate Governance in SMEs, S. Rachagan and   E. Satkunasingham (2008), SME –  ENTREPRENEURSHIP GLOBAL CONFERENCE “Creating Sustainable Entrepreneurship Eco-system and High Performance SMEs” , Melbourne, Australia.
9 Controlling shareholders and corporate governance in Malaysia, S. Rachagan (2006), GBATA Conference, Moscow, Russia.
10 Improving the Corporate Value of SMEs in Developing Countries – A Need for Good Corporate Governance, S. Rachagan (2006), SME-Entrepreneurship Global Conference 2006, Selangor, Malaysia.
11 Corporate Governance and Its Impact on the Economy, S. Rachagan (2004), The Economics and International Business Research Conference which took place in December, Miami, U.S.
12 Impediments to the Implementation of Islamic Banking in Malaysia – A Legal Perspective, S. Rachagan (2003), International Conference on Islamic Banking which took place in September, Prato, Italy.

Others

1Rachagan, S. (2013) “Boards and Ethical Governance: Understanding Business Ethics”, Directors’ Duties 2013, 27 June, Kuala Lumpur, Malaysia.
2Rachagan, S. & Kasipillai, J. (2013), “Transplanting Laws to Improve Corporate Governance in Public Listed Companies – A Malaysian Experience”, Research Seminar Series 16, School of Business, Monash University Sunway Campus, 25 April, Malaysia.
3Rachagan, S. & Kasipillai, J. (2013) “Tax Incentives and Corporate Social Responsibility”, Research Seminar Series 16, School of Business, Monash University Sunway Campus, 25 April, Malaysia.
4Rachagan. S. (2012) “Avoiding Plagiarism and Self-Plagiarism”, Postgraduate Seminar on Plagiarism, Monash University Sunway Campus, 23 November, Selangor, Malaysia.
5Rachagan, S. (2012) “Is CSR A Necessity for Malaysian Companies To Be Competitive?”, Malaysian Forum on Business Sustainability, A Dialogue on Sustainability: from Aspirations to Pragmatic Applications, Sime Darby Convention Centre, 24 May, Kuala Lumpur, Malaysia.
6Rachagan, S. & Marhsall,S., (2012), “Diversity in the Boardroom of Malaysian PLCs –Do We Have It and Do We Need It?”, Seminar Series, School of Business, Monash University Sunway Campus, February, Selangor, Malaysia.
7Rachagan, S. (2011), “Admission Qualification and Admission Requirement: Quality and Expectation”, National Conference on Effective Management of International Students: Sharing the Best Practice, July, Kuala Lumpur, Malaysia.
8 Terpstra, R., Mahenthiran, S., Tong, J. & Rachagan,S. (2011) “CEO Survey”, The Climate of Our Business – A Perspective from Malaysian Executives, Monash University Sunway Campus, MSWG and Butler University, DF Printers and Supplies Sdn Bhd, Kuala Lumpur, Malaysia.
9 Terpstra, R., Mahenthiran, S., Tong, J. & Rachagan,S. (2010) “CEO Survey”, The Climate of Our Business – A Perspective from Malaysian Executives, Monash University Sunway Campus, MSWG and Butler University, DF Printers and Supplies Sdn Bhd, Kuala Lumpur, Malaysia.
10Rachagan, S. & Janine, P. (2010) “Protecting Minority Shareholders In Malaysian Public Listed Companies Against Conflicts of Interest by Related Parties: Some Important Developments", 7th  Asian Law Institute Conference, 25-26 May, Kuala Lumpur.
11Rachagan, S. (2010) “Improving Corporate Governance Post Financial Crises: Are New Regulations the Way Forward?”, Globalisation and Business Challenges in the post-Financial Crisis World, 28-29 September, Prato.(URL: http://www.buseco.monash.edu.au/blt/tlpri/prato-10.html)
12Rachagan, S. (2010) “Improving Corporate Governance Post Financial Crises” – MUSC Research seminar, 15 Nov.
13Rachagan, S. (2009) “Money Laundering Laws in Malaysia”, Updates on Regulatory Framework Directors’ Duties and Effective Corporate Governance Conference, Malaysian Institute of Corporate Governance, 20-21 May, Selangor, Malaysia.
14Rachagan, S. (2007) “Controlling Shareholders and Corporate Governance in Malaysia: Would the Self-Enforcing Model Protect Minority Shareholders?”, Corporate Governance Law Review Seminar, July.
15Rachagan, S. (2005) “Developments of Company Law in Malaysia”, Working Paper for Bursa Malaysia Securities Berhad, Kuala Lumpur, Malaysia.
16Rachagan, S. (2005) “Corporate Governance in Malaysia”, Monash University Law Faculty’s Higher Degree Research Seminar, March, Australia.
17Rachagan, S. (2003) “Minority Shareholder Rights and Remedies”, Monash University Law Faculty’s Higher Degree Research Seminar, September, Australia.

Local Grants

Title CEO Survey
Investigators Assoc. Prof. Shanthy Rachagan
Dr. Robert Terpstra
Dr. Jane Tong
Prof. Sakthi Mahenthiran
Funding Period September 2012 – April 2013
Funding Body/Organisation MUSC
Funding Amount RM30,000
Title CEO Survey
Investigators Assoc. Prof. Shanthy Rachagan
Dr. Robert Terpstra
Dr. Jane Tong
Prof. Sakthi Mahenthiran
Funding Period September 2012 – April 2013
Funding Body/Organisation CPA Australia
Funding Amount RM30,000
Title CEO Survey
Investigators Assoc. Prof. Shanthy Rachagan
Dr. Robert Terpstra
Dr. Jane Tong
Prof. Sakthi Mahenthiran
Funding Period Feb 2012 – April 2012
Funding Body/Organisation Education Strength, School of Business
Funding Amount RM7,500
Title Introducing a new unit: Banking and Finance Law
Investigators Assoc. Prof. Shanthy Rachagan
Funding Period Jan 2012 – Dec 2012
Funding Body/Organisation Education Strength, School of Business
Funding Amount RM14,200
Title CEO Survey
Investigators Assoc. Prof. Shanthy Rachagan
Dr. Robert Terpstra
Dr. Jane Tong
Prof. Sakthi Mahenthiran
Funding Period Sept 2011 – Feb 2012
Funding Body/Organisation MUSC
Funding Amount RM30,000
Title Shareholders’ Empowerment and Responsibility Framework -  Addressing the Gap Between Theory and Practice
Investigators Prof. Dr. Aiman Nariman bt Mohd Sulaiman (PI)
Assoc. Prof. Shanthy Rachagan
Funding Period Jul 2011 – Jun 2013
Funding Body/Organisation MOSTI – Fundamental Research Grant Scheme (FRGS)
Funding Amount RM50,000
Title Corporate Social Responsibility in Emerging Economies and its Implications to Tax Professionals
Investigators Assoc. Prof. Shanthy Rachagan (PI)
Prof. Jeyapalan Kasipillai
Funding Period Jan 2011 – Jan 2012
Funding Body/Organisation Chartered Tax Institute of Malaysia (CTIM)
Funding Amount RM5,000
Title Improving Corporate Governance in Malaysia: The Way Forward
Investigators Prof. Jeyapalan Kasipillai (PI)
Assoc. Prof. Shanthy Rachagan
Funding Period Dec 2010 - Jun 2012
Funding Body/Organisation MACPA Educational Trust Fund (METF)
Funding Amount RM14,000
Title To introduce a new unit titled ‘Current Issues on Corporate Governance and writing a book highlighting corporate governance case studies in South East Asia
Investigators Assoc. Prof. Shanthy Rachagan
Dr. Elsa Bawani
Funding Period Jan 2009 – Dec 2009
Funding Body/Organisation Education Strength, School of Business
Funding Amount RM26,500
Title Corporate Governance and the Issues of Corruption in Malaysia
Investigators Assoc. Prof. Shanthy Rachagan
Funding Period Jan 2006 – Dec 2006
Funding Body/Organisation MUSC
Funding Amount RM6,250
Title Company Disclosure Obligations - Are our laws and codes sufficient
Investigators Assoc. Prof. Shanthy Rachagan
Funding Period Jan 2005 – Dec 2005
Funding Body/Organisation MUSC
Funding Amount RM10,850

International Grants

Title Improving Corporate Governance in Malaysian PLCs
Investigators Assoc. Prof. Shanthy Rachagan
Dr. Poon Wai Ching
Dr. Elsa Bawani
Shelley Marshall (MUA)
Funding Period Jan 2012 – Dec 2012
Funding Body/Organisation MUA
Funding Amount RM15,000
Title Corporate Governance and Firm Performance in Malaysia
Investigators Shelley Marshall
Dr. Elsa Satkunasingam
Assoc. Prof. Shanthy Rachagan
Dr. Poon Wai Ching
Funding Period 2011-2012
Funding Body/Organisation MUA – Department of Business Law and Taxation
Funding Amount RM26,934

Current Supervision

Student Archibald Francis De Cruz
Program of study Organization Self Regulation Approach Towards Sustaining Long Term Profitability in Businesses Opera; (PhD)
Student Loi Teck Hui
Program of study Practicing Corporate Social Responsibility (CSR) : The Strategic Intent, Planning Process and Outcome; (PhD)

Local Award

Award Name PVC Award: Excellence in Research
Awarding Body MUSC
Year of award 2013
Project Title N/A
Award Name PVC Award: Excellence in Administration
Awarding Body MUSC
Year of award 2013
Project Title N/A
Award Name PVC Distinguished Teaching Award
Awarding Body MUSC
Year of award 2011
Project Title N/A
Award Name PVC Distinguished Teaching Award
Awarding Body MUSC
Year of award 2009
Project Title N/A
Award Name Letter of Commendation from Head of School for High Unit Evaluation Score
Awarding Body MUSC
Year of award 2009
Project Title N/A
Award Name PVC Distinguished Teaching Award
Awarding Body MUSC
Year of award 2008
Project Title N/A
Award Name Letter of Commendation from Head of School for High Unit Evaluation Score
Awarding Body MUSC
Year of award 2008
Project Title N/A
Award Name PVC Distinguished Teaching Award
Awarding Body MUSC
Year of award 2007
Project Title N/A
Award Name Special Commendation for PVC's Distinguished Teaching Award
Awarding Body MUSC
Year of award 2005
Project Title N/A

International Award

Award Name Dean's Commendation for Outstanding Teaching
Awarding Body Monash University Australia
Year of award 2009
Project Title N/A

Local Presentation

1 Rachagan, S. and Kasipillai, J.(2013), “Tax Incentives and Corporate Social Responsibility”, Monash University Research Seminar Series 16, 25 April 2013, Meeting Room 2, Level 5 (6-5-36).
2 Rachagan, S. and Kasipillai, J.(2013), “Transplanting Laws to Improve Corporate Governance in Public Listed Companies - A Malaysian Experience”, Monash University Research Seminar Series 16, 25 April 2013, Meeting Room 2, Level 5 (6-5-36).
3 Banking Supervision Course conducted for Bank Negara Officers on the 16th of July 2012.
4 Presented a paper titled, A Dialogue on Sustainability: From Aspirations to Pragmatic Application at the Malaysian Forum on Business Sustainability, held 24th May 2012 at the Sime Darby Convention Centre, Kuala Lumpur. Organised the Minority Shareholder Watchdog Group (MSWG), Malaysia and Perception Management International Group and themed “Governance, Responsibility, Profits”.
5 Panelist, “Admission Qualification and Admission Requirement : Quality And Expectation”, National Conference on Management of International Student, Grand Season Hotel, Kuala Lumpur, 27 July 2011
6 Chair of Concurrent session at the ASEAN China Symposium – December 5& 6, 2011.
7 Chair and Judge at Doctoral Colloquium, Dec. 2011.
8 Chairperson, MICG Annual Directors Duties & Governance Conference, “Towards Boardroom Excellence and Corporate Governance Best Practices”, Istana Hotel Kuala Lumpur, 14 January 2010.
9 Presenter, 7th Asian Law Institute (ASLI) Annual Conference, “Law in a Pluralist Asia: Challenges and Prospects”, International Islamic University Malaysia, 25 – 26 May 2010.
10 Latest Changes to the Laws on Money Laundering – paper presented at the MICG Conference, June 2009.

International Presentation

1 Intangible Factors Associated with Firm Performance in Developing Countries: Malaysian Evidence, paper presented at the 2013 Annual Meeting of the American Accounting Association which took place on the 3rd – 7th August, California, U.S.
2 A staff/student presentation on the 29-th of October 2012 on the topic: “Diversity on Boards and Improved Corporate Governance – Should East Meet West”. Faculty of Law, “Babes-Bolyai” University Cluj-Napoca.
3 Chair for the ENTREPRENEURSHIP GLOBAL CONFERENCE “Creating Sustainable Entrepreneurship Eco-system and High Performance SMEs”, Melbourne, 2008.
4 Corporate Governance in Malaysia, paper presented at the Monash University Law Faculty’s Higher Degree Research seminar, 2005